SA firm buys 51% of local fast food chain

Wednesday, June 24, 2015

Franchised fast foods outlets have grown by 44% in the past five years in Botswana

South Africa’s biggest franchise group, Famous Brands has acquired a 51 percent controlling stake in local fast food counterpart, Retail Group Botswana, in a deal whose financial details are not disclosed.

Retail Group, which is Famous Brands’ local licence partner, runs 28 restaurants in Botswana in a portfolio that includes Wimpy, Debonairs Pizza, Mugg & Bean, Milky Lane and Steers.

In a statement released yesterday, Famous Brands Group Chief Executive, Kevin Hedderwick stated the transaction aligns with their deliberate approach to either acquire or take a controlling stake in businesses that use their licensed brand in neighbouring countries.

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